Beware! Pinnacle Fx Trades is an offshore broker! Your investment may be at risk.

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Pinnacle Fx Trades advertises itself as a forex broker that is particularly suitable for beginner traders. But fact-checking reveals that it is a typical scam targeting people with no experience and knowledge of financial trading. In this review, we’ll show you how to recognize such scams and how you could find a legitimate broker suitable for your needs.

Pinnacle Fx Trades Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Pinnacle Fx Trades
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

Pinnacle Fx Trades does not disclose which company is behind this website. The only way to contact them is by email. The Terms and Conditions and Privacy Policy do not name any legal entity or applicable jurisdiction.

As further confirmation that this website is a scam, the UK’s financial regulator has blacklisted it.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

Pinnacle Fx Trades Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Pinnacle Fx Trades platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

Pinnacle Fx Trades has no trading software, which shows that we are dealing with a low-effort scam targeting people who don’t know what to expect from a real forex broker.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Pinnacle Fx Trades Trading instruments

CurrencyStocksIndicesCryptoCommodities
Pinnacle Fx Trades
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

Pinnacle Fx Trades advertises forex and cryptocurrency trading but has neither the legal authorisation nor the technological capacity to facilitate trading in financial instruments. There is no reason to choose this scam website over any of the many licensed forex brokers.

Pinnacle Fx Trades Spreads and cost of trading

Pinnacle Fx TradesXMFBSFXTM
Spread EURUSD0.611.1
Spread GBPUSD1.31.21.4
Spread USDJPY1.31.21.4

When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc. All we see on the Pinnacle Fx Trades website are promises of sure profits.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Pinnacle Fx Trades Maximum leverage

ForexStocksCryptoGoldIndices
Pinnacle Fx Trades
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

All leading regulators limit leverage for retail traders. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Pinnacle Fx Trades Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Crypto24 hours24 hoursFee depends on crypto

We weren’t at all surprised that the only payment method accepted by Pinnacle Fx Trades is cryptocurrencies.

Cryptocurrencies are the payment method of choice for most financial scammers. The reason for this is that on the one hand cryptocurrencies provide a degree of anonymity and on the other hand they do not allow the defrauded person to ask for a refund.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Pinnacle Fx Trades Minimum deposit

Pinnacle Fx TradesXMFBSFXTM
Minimum deposit$5000$5$10$5

Pinnacle Fx Trades requires a very high initial investment of 5,000 USD. With as little as 50 USD or even 5 USD you could open a trading account with a licensed and established forex broker.

Pinnacle Fx Trades Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Pinnacle Fx TradesNot specifiedNot specifiedNot specified
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

Pinnacle Fx Trades does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back.

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